The Drum Awards Festival - Official Deadline

-d -h -min -sec

Peacocks, Past Times and Sangs all set for administration

Author

By The Drum Team, Editorial

January 17, 2012 | 1 min read

High street stores Peacocks and Past Times are both set to enter administration, as it soft drink maker Sangs, which produces McBee water.

Peacocks has announced its intention to enter administration, although chief executive Richard Kirk is mounting a rescue attempt for the fashion chain which has 611 stores and employs over 10,000 members of staff.

The company is understood to owe its bank over £100m and has been in talks about restructuring its debt.

Gift retailer Past Times, has filed for administration however, and will close 46 stores resulting in the loss of 574 jobs, while the remaining 51 stores continue to remain open, administrator KPMG is not hopeful of finding a buyer, which will result in the loss of around another 500 roles.

Meanwhile Scots soft drinks make Sangs has been placed into the hands of administrator Zolfo Cooper which is seeking buyers. The company employs around 60 members of staff.

Trending

Industry insights

View all
Add your own content +